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DONEGAL GROUP REPORTS RESULTS

 MARIETTA, Pa., Nov. 1 /PRNewswire/ -- Donegal Group Inc. (NASDAQ: DGIC) today reported operating results for the nine months ended Sept. 30, 1993.
 Net income for the nine months ended Sept. 30 was $5,238,730, or $1.72 per share, compared with $3,807,080, or $1.27 per share, for the same period in 1992. Net income for the quarter ended Sept. 30, 1993, was $1,735,062, or $.57 per share, compared with $1,275,943, or $.42 per share, for the third quarter of 1992. Total revenues for the first nine months of 1993 compared with the first nine months of 1992 increased 25 percent to $57,867,117 with premiums earned increasing to $51,568,116, a 27 percent increase over the same period of 1992. The company's primary subsidiary, Atlantic States Insurance Company, increased it's participation in a pool with Donegal Mutual Insurance Company by 20 percent effective Jan. 1, 1993, and this change accounted for a large portion of the increase.
 The company, which completed a secondary offering of it's common stock in September, continued it's strong underwriting results with it's GAAP combined ration being a strong 97.9 percent for the nine months ended Sept. 30, 1993, and 97.4 percent for the most recent quarter then ended.
 Donegal Group Inc. is a regional property-casualty insurance holding company doing business in Pennsylvania, Virginia, Maryland and Delaware through its wholly owned subsidiaries, Atlantic States Insurance Company and Southern Insurance Company of Virginia.
 DONEGAL GROUP INC.
 SELECTED FINANCIAL INFORMATION
 Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992
 Premiums earned $51,568,116 $40,562,657
 Investment income,
 net of expense 4,768,468 4,502,736
 Realized capital gains 818,410 624,339
 Total revenues 57,867,117 46,325,105
 Net income 5,238,730 3,807,080
 Net income per share $ 1.72 $ 1.27
 Third Quarter Ended
 Sept. 30, Sept. 30,
 1993 1992
 Premiums earned $17,602,961 $13,815,686
 Investment income,
 net of expense 1,565,720 1,509,040
 Realized capital gains 221,508 22,775
 Total revenues 19,636,693 15,563,995
 Net income 1,735,062 1,275,943
 Net income per share $ .57 $ .42
 -0- 11/1/93
 /CONTACT: Ralph Spontak, senior vice president and chief financial officer of Donegal Group Inc., 717-426-1931/
 (DGIC)


CO: Donegal Group Inc. ST: Pennsylvania IN: INS SU: ERN

SH -- NY020 -- 9008 11/01/93 09:21 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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